The best, finest, and most meaningful/relevant way for real estate agents to professionally explain their reasoning, marketing, and selling plans is to create a comprehensive Competitive Marketing Plan, or CMA, and explain it thoroughly to their clients. potential and existing! This should be more than just a cursory explanation and examination of home prices, but rather should become a key part of strategic and action plans, which will be used to generate the best prospects. . As a licensed real estate seller in New York State for over 15 years, I have prepared countless plans and consider them one of the most important documents and steps in making the process smarter, better, easier, less stressful and faster. With that in mind, this article will attempt to briefly consider, examine, review and discuss 6 important components/factors in preparing and utilizing a professionally designed Competitive Market Analyst.

1. Market trends/conditions: It is important to create a strategy, based on specific local and/or regional trends and conditions, because what works in one place may not work in another. What are some of the local nuances etc. that could affect the marketing strategy as well as the listing price etc.?

2. recent sales: It is not enough to simply examine and consider recent sales and/or listing prices! Sale prices should be carefully examined, and the more current the closing date, the more significant! However, a variety of features must be carefully compared, including the specific block, local schools, community safety, specific home features/inclusions, etc.

3. Expired listings: This process should include consideration of expired listings and probable reasons why they may not have sold! If there are many of these, it indicates one thing, but even if there are fewer, a common link must be found, and examined! Perhaps the reason was price, and if so, you should provide key information when preparing the document.

Four. Features/condition/updates/lot and house size/specific block, etc.: Avoid comparing apples with oranges! Consider the features included and their value! What is the general condition of the property in question, compared to the competition? What updates have been made and what is the impact of these? Be sure to consider both the lot size and the shape/usability, as well as the advantages and/or disadvantages of the specific block, etc.

5. Specific location: Compare specific locations and the advantages and disadvantages of each. How might these prices, etc. affect?

6. Know your customer: Prior to any agent/client relationship, it is important for a real estate professional to know and understand their client and to be able to fully and thoroughly communicate essential marketing and sales strategies. CMA will only make sense and be effective and meaningful if/when an agent and client work together and leverage quality teamwork!

Since, for most people, the equity in their home represents their single largest financial asset, doesn’t it make sense to proceed prudently and in a well-considered manner? Before you hire an agent, take a hard look at their professionalism and thoroughness in competitive market analysis!